ADA / USD -- 6/8/2018 Analysis
Cardano / Dollar (calculated by TradingView) BINANCE:ADAUSD
After bouncing at S1, the bulls and bears have been battling it out at R1. If R1 holds, a retest of S1 and/or the lower trend line is likely. Bearish momentum is slowing and S1 and S2 are both be attractive buy locations for bulls IMO , though in probabilistic terms I think a hit of S1 is much more likely than a hit of S2. Personally, I am waiting for the less probably chance that price hits S2.
Notice that price briefly got above the C-MA but the color remained red ( bearish ).